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Nigeria’s debt rises to N32.2trn – DMO

Adewale Nurudeen

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Nigeria’s public debt has risen to N32.2 trillion at the end of September according to latest figures from the Debt Management Office (DMO).

The figure implies that the nation’s debt profile rose by N1.19 trillion between the second and third quarter of 2020.

According to a breakdown provided by the DMO on its website on Thursday, the Federal Government’s total debt stood at N28 trillion as of September 2020 while the debt of the states and the Federal Capital Territory stood at N4.19 trillion.

Further look at the public debt profile showed that the domestic debt is 20trillion or 62.18 per cent of the total debt while foreign debt is 37.82 per cent.

‌In dollar terms, Nigeria’s total debt is $84.57 billion.